Dodd-Frank Act
WHAT IS THIS? Properly known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, this controversial US legislative package enacted a host of reforms agreed by the G20 nations in the aftermath of the financial crisis, including rules on the clearing, execution and reporting of standardised swaps. It also introduced the Volcker rule ban on proprietary trading by banks, and a new way of liquidating big institutions.
Isda AGM: Closer international co-ordination needed, says MAS’s Ng
The potential for conflicting regulations could hamper cross-border trades, warns MAS official
US warns EU over financial transaction tax
The US will not allow the EU financial transaction tax to happen, according to the head of US Chamber of Commerce Thomas Donohue. Co-ordination between G-20 countries on financial regulation is needed
CFTC’s Gensler defends long arm of Dodd-Frank
CFTC chair says "it is critical" that US rules apply overseas, in article for Banque de France stability review
OTC derivatives supplement
Global consistency a pipe dream, as national regulators go their own way
Energy firms give mixed response to Dodd-Frank swap reporting delay
Dodd-Frank delay gets mixed response from energy firms
Ferc ruling raises hope of greater regulatory certainty
Ferc and turf
Law firm of the year: Morrison & Foerster
OR&R recognises a law firm that successfully guided clients through regulatory confusion and the interpretation of sometimes competing items of financial legislation
DME’s Oman oil contract flourishes from futurisation of swaps
Shift away from swaps trading and recent price reporting agency scandals helping Oman contract, says DME chief
EC to fight new US prudential rules for foreign banks, says EBF
EC "very concerned" about capital and liquidity proposals, says chief executive of the European Banking Federation
Futures will not beat swaps on margin alone, say buy-side firms
Swap futures have a number of advantages, but OTC instruments will continue to be popular, leading buy-side firms say
Volcker still likely to cause damage, expert warns
US banks remain highly cautious about the impact of Volcker rule, industry expert says
Dealing with CCP proliferation
A variety of clearing houses are emerging in Asia – in some cases, backed by domestic clearing requirements for local currency derivatives. That poses some difficult questions for participants active across the region. Should they sign up to all of them…
Swaps vs futures: OTC market speaks out
Swaps vs futures: OTC market speaks out
Energy firms struggle to meet Dodd-Frank reporting deadline
With Dodd-Frank reporting and record-keeping rules set to come into effect on April 10, energy companies worry they won’t be ready in time
Rolling spot faces inclusion in Dodd-Frank
Forex spot is expected to be exempt from US clearing and exchange trading rules, but rolling spot could be classified as a CFD and so be included within the scope of Dodd-Frank
Late nights and illegality – but start of clearing in US goes well
The days either side of the first US clearing deadline saw last-minute decisions by clients and regulators, operational niggles and some illegality
Sefs find liquidity comes at a cost
Banks have been reluctant to pick winners and losers from the array of new derivatives trading platforms being set up, but with Citi and Morgan Stanley taking equity stakes in two venues at the end of last year, it looks like some dealers are finally…
CFTC: O'Malia on a mission to fix Dodd-Frank flaws
With the end of the agency's marathon Dodd-Frank Act rulemaking in sight, CFTC commissioner Scott O'Malia wants to go back and fix what he sees as mistakes. By Peter Madigan
Combating the collateral crunch
Sponsored statement: BNY Mellon
CFTC ‘neglect’ of Sef rules angers platform providers
After missing numerous deadlines to finalise the criteria for Sefs, the CFTC will not publish the rules until late April at the earliest, much to the frustration of market participants
Extraterritoriality, uncleared margin and futurisation – Isda on OTC derivatives reform
The first clearing mandates came into force in the US on March 11, but there is still plenty of uncertainty about how certain parts of the new regulatory framework will function. In this roundtable discussion, Nick Sawyer talks to two senior board…
Extraterritoriality: US person definition doubt
The Dodd-Frank Act requires any trade involving a US person to meet strict new regulatory requirements. The first mandatory clearing requirements are now in force – but the definition of US person is still not finalised, creating havoc for firms trying…
OpRisk North America: Regulator warns industry to get implementation of Dodd-Frank right
Implementation of Dodd-Frank Act raises op risk concerns, conference hears
Broader US person definition could cause clearing avalanche, participants warn
A large number of offshore funds could be classified as US persons once a CFTC exemption expires in July, subjecting them to Dodd-Frank transaction-level rules